Khazanah says talks with Volkswagen still on

Contradictory to what the Prime Minister mentioned yesterday, Khazanah Nasional who owns about 43% of Proton and spearheads the talks between Proton and a potential stakeholding partner has said that it is still in talks with Volkswagen, as well as the other potential foreign partner, General Motors. Local partners such as DRB-HICOM, Mofaz and Naza are also in consideration.

There is now a new deadline for partnership talks to conclude, but because of what has happened previously, I am not sure anymore if a deadline means anything at all. Second Finance Minister Tan Sri Nor Mohamed Yakcop said the new deadline would be 3 months from now – which would be 31st August 2007, coincedentally Merdeka day. We should be able to know by then whether we will be able to “merdeka” from this continuous soap opera that is the Proton foreign partnership talk.

Tan Sri Nor Mohamed Yakcop also commented that controlling stake was not an issue in any talks that was going on. However, I am not sure if we can believe anything in the news anymore as reports from the government, Khazanah, and Proton always seem to contradict each other.

Proton shares dropped 5 sen to RM5.30 since the announcement of Volkswagen pulling out and making a loss for the 2006 financial year.

After dabbling for years in the IT industry, Paul Tan initially began this site as a general blog covering various topics of personal interest. With an increasing number of readers paying rapt attention to the motoring stories, one thing led to another and the rest, as they say, is history. An avid electronic gadget aficionado as well as big-time coffee lover, he's also the executive producer of the Driven motoring TV programme.

Do u know why khazanah said like this.. They scare ppl will starting to sell P1 share and it will drop a lot and their $$$ will be less… Haiz.. politics again.. But i think if the mass media report GM fail again.. Hoho.. I think RM4 also also dont have… The foreign investor are hard to invest since our ringgit is getting stronger and stronger, and i think they will made sure our ringgit is stable then invest.. The more false media come interrupt, the more share will drop and easier foreign investor to take over.. Haha.. If any people want to invest P1, the best now is to wait under RM5 then can buy it.. I have seen a lot of times when go down by RM5 the G will pour money inside to help P1 share up.. I am going to bet the tie-up must be GM.. GM=Government Money! LOL!

This acah acah, wayang wayang, and goreng-goreng P1 share hopefully like pisang panas. Look like these bunch of people never tired of what they are talking. Perhaps this is the only thing they can do ………… TALLLLLLLLLLLLLLLLK!

Typical of the G these days… one fella say 1 thing, another say something else. Technically PM is Khazanah boss, so when the boss said something else, and the mah chai says something else shows that no one is really running the show.

Like Paul, then the first dateline was missed, the DPM actually said the dateline is not important. I think the people "lucky" enough to be "elected" to run this country have a moving target.

Come 3 mths, i won't be surprise if nothing happen. Soap Opera is never ending, so is this drama.

i'll stay patriotic and support P2, although they are not exactly our genuine national car since its a rebaged Daihatsu and they not provide ground breaking technology but at least up-to-date so to speak.

most important part is they DO NOT give us rubbish like this, lying to the public over and over again like someone trying to scam u. curse this man.

what a disgrace to the public and the nation, our so called "pride"……there's none.

In the first place, from p1 policies there are always notting benefit us, but p1. Buy P1, we loss p1 win, and make them successfully to sell super cheap junk car in a super ridiculous high price. Dont buy it, gomen save p1 with our money..

p1 is improving, but other cars are improving much better n faster..and their cars make u feel like the car is built for u, not built for money..

I work like a dog to earn a living, dealing with moron bosses and F$#@& co-workers everyday, swallow my pride just to keep my family going, and have to pay taxes to contribute towards something that is hopeless by the name of nationa pride?

Oh, lies, lies and more lies to (try) to save their butts. Like you Paul, nothing is believable anymore. Whatever they say, all we can do is just listen but not believe.

I think if it closes shop, it'll save alot of people alot of trouble. Including the rakyat. It's not like we haven't heard of such suggestion before – Dr M used to say that himself (that Proton might as well close shop). Proton was his own hardwork.

I think Proton has to have an ultimatum (unlike those fake and ineffective deadlines). Give Proton an ultimate deadline – if by that deadline the company is still in red, I say something has to happen. This is inline with the PM's own words "They cannot go on making losses".

Hehe.. nothing more to be flabbergasted with all this cha-chas and tangos..Nothing at all !!!

This is how those bloody morons always keep on dancing since the 1st chapter 'Saga of Proton' story.

How could people wish the good outcome of Proton should his life is determined and be directed by those people who even don't seem to possess any passion or know-how regarding automotive industry. The only their credential and expertise are speculation, manipulation, and talking shite like a damn bloody politicians.

How could a company like Proton survive, let alone to be more competitive in this fast moving, cutting edge and sophisticated auto industry should the people who maneuvers its direction are the bunches of people with such a bloody dumb sluggish attitude equipped with ignorance toilet bowl class mentality !!

In this fast pace giant scale industry, either you keep on learning, working enthusiastically and winning or keep on acting arrogantly, talking sentimentally and losing awkwardly.

As others are keep busy moving toward, Proton is busy talking shite about all his greatness and pride. By the time he realized that he has been left behind by others too far away, everything is too late already. Eventually, the only solution he can think of is to suck folk's hard earned money greedily through his big fatty bloody dumb arse papa G. Damn pathetic !!

"Proton is a significant asset to the country". YES i definitely, wholeheartedly agree with that statement. Moreover i reckon, the establishment of Proton is such a very extraordinarily genius strategical investment towards development of the country. But the only cause that bring Proton down is the people who always like to play with that sentimental statement together along his bunch of morons parasite !

~~~~The soap opera of "Saga of Proton"~~~~

Lead actor of big papa G: "the deal is oFF. Go and find new partner" = F

{"After the prime minister made the announcement, Volkswagen requested a final round of talks," the official told AFP. "I can categorically say today that all the reported interested parties, including Volkswagen and General Motors, remain in the picture," Azman told reporters.}

This is sheer propaganda in an attempt by Azman Mokhtar to save face. As all of you are well aware, the Prime Minister Abdullah Bawadi even publicly vented his anger at VW CEO Martin Winterkorn (earlier it was ex-CEO Bernd Pischetsrieder) for failing to meet him. The VW CEO has no intention whatsoever to meet Abdullah. The talking is done by his officers led by VW Group Malaysia Managing Direct Axel Barth who reports to him. There is no need for Winterkorn to meet Abdullah or anyone in Proton. As someone who is in the know, I can say with certainly that VW HAS NOT SOUGHT and WILL NOT SEEK further talks with Proton. In fact it ended all negotiations with Proton much, much earlier. It IS the Malaysians who have been wooing VW, and yet they have refused to accept VW terms. VW is quite willing to do for Proton what the French Renault's Carlos Ghosn did for Nissan. Renault is of course a partner and shareholder of Nissan. But VW doesn't want any stake in Proton because of Malaysian 'political difficulties' and Malaysia's 'patronage' policy not to mention its hugh losses — although they aren't a lot to VW, particularly in Euro terms.

I informed MT readers much earlier, (and Abdullah has now confirmed it) that VW is not interested in any equity stake in Proton. VW will only be interested to help Proton turn around its business if VW has total management control. It wants no political intereference from the Malaysian government in decision making and it wants autonomy in every aspect of mangement, designing, production and marketing of Proton cars under whatever brand VW may think fit. Further the Malaysian market is too small for VW and it does not provide the synergy which VW is seeking in any venture or cooperation with Proton. For example in China, VW sold more than 700,000 cars (711,298 to be exact) last year while it can only target to sell 700 VW cars in Malaysia this year. To date it has sold only 223 VW cars in Malaysia!

"Latest news" from 2nd tier supplier – P1 cease ordering component for Wira model. There is indication P1 will stop Wira production at least temporary to clear old stock, or cease production all together if the sales is unfavorable. This is part of measure to take "all necessary" action to cut lost!

NEXT is likely big VSS at the scale of MAS.

Huh, huh, if this happen, tax payer money will be use to put up this crap-triotic show ……

â€œThey have to turn around. They cannot be going on making losses. They have to do whatever they think is necessary. I have decided, since Volkswagen is not interested in the proposal that Proton wants in terms of equity, Proton needs to talk to other people,â€ commented our Prime Minister Datuk Seri Abdullah Ahmad Badawi…

LOL… PM, your decision has been overwritten… Like it or not if Volkswagen is interested or not, our Second Finance Minister Tan Sri Nor Mohamed Yakcop said the new deadline would be 3 months from now (in talks with Volkswagen)â€¦

My question is are you in charge or is it someone else?

By now, Volkswagen may not have interested in Proton and yet we are wasting another 3 more months waiting till the 50th Medeka Day…

i can imagine that when the deadline have reached, our DPM would say it again "dateline is not important…" .. i guess lets celebrate Medeka 1st then think about it later.. ha ha ha.. then our PM will say, "i have been waiting for VW to call me for a meeting….where are they? " the answer is… "VW is now in indonesia.. sir… but wait, give us 3 more months, we are still in talks with VW".. and this will continue till dunno when..

If they close the potong, how are these parasite inside continue to suck blood ? They have to make it alive, but make sure it continue to lose money and prepare good reasons for government to continue support them.

Louzy PM… I think they better do like what Skoda done before.. now they are one of the best car manufacturer in Europe.. Haiz.. never learn from others.. That why our Malaysian history always kena bully by foreigners.. Even Thailand king until now not conquer by others.. but Malaysia? Muka tembok, Ego and stupidness on making decision made the foreigners to invade us more easily.. History are made for us to learn from the past.. but i think they never read it also.. The G should spend more money on our Peoples well fare, but not on companies which are losing money and not stable… Haiz…

I want to speculate something here. You know, the announcement was made directly after the Lina Joy Case. And since that case has a lot of media attraction overseas, but in Malaysia its a media blackout, only cannot blackout this cause the verdict is made public, then announce VW-P1, Also same day announce war technology, pay-rise, and election. I am not sure what is going on. P1 can jual mahal, only who want to buy expansive decaying carcass. Sooner or later sure smell and then no deal. Finally DRB will own it, or my dream, go just sell to someone else with the factory to dragon land. They got bigger market there.

dont any of you actually read the newspapers, properly? or listen to a news report in its entirety? or even bother to read what paul tan's says?

if you have been following this news closely, you will notice that the proton management has never said a single word about this VW and GM thingy.. its either 2nd finance minister, khazanah, or the PM.

anyways joe ooi, i'm not surprised that proton is cutting down the wira production..etc. theres a new sedan model coming to replace the wira.. heck, the pics of the new car are even on paul tan.

You mean Gen.2 sedan… yucks… Better buy Waja… but i think it will fit CPS engine to sell that sedan so ppl wont go buy Waja… but if Waja also fit with CPS i think i will go for Waja then Gen.2.. Why? Coz my father hit his head in Gen.2 even the driver seat is lowered.. Louzy Gen.2 never think of high ppl…

Anywayz the Khazanah guys hold the biggest stake in P1.. Is not the proton management power to say which to tie-up.. P1 management is always lower then the big share holder.. So mainly the power to say so is from the G and khazanah and not from the management.. Is like Chairman and Manager.. The person who in charge to sell and buy the share is from Khazanah, so is their decide to tie-up with who but not the P1 management.. This is reality, if the sales of P1 not good the Chairman can also fire the P1 management easily.. just like MAS doing before.. Pak Lah is the PM of Malaysia and he said like this to you.. Do you believe it? If the news is fake i think next election ppl wont believe Pak Lah anymore…

Anywayz just kidding.. What we need is to hold hands, don't buy P1 cars and see what G will do… Wait until open market then see if our cars improve or not.. Now is better to get a secondhand car and drive… Even a secondhand SAGA or iswara below 1997 are less then RM10k thx to the new cheap price of new SAGA… Haha..

basically who it ties up to, if it bankcrupts I don't care. It is none of my business and it is just a small company compared to big car manufacturers and will not have much impact to the world economy. Just a small dot. I don't bother with this toy car company.

What do u expect from a company that doesn't make a car and claims it sells a car? Iswara and Saga is not a car. It's merely few slice of very thin aluminium with tires so it can move. Basically that's what they are selling.

Mr. Prime Minister of Malaysia has been reported previously of requesting VW CEO to come and meet him (sounds more like come and beg to him) regarding Proton acquisition deal .

Haha..you can see literally what kind of attitude and mentality this honourable man showed off to the world.

What, does he think VW is that too bloody desperate and eager to death to form alliance with the ailing Proton, by directing the big boss of European biggest car maker and among the world automotive slugger come to see him ?

Hey Mr. Prime Minister, if you think VW is that too desperate by implying that perception through your attitude, you are damn wrong. VW Group global sales figure recorded to be surpassing steadily above than 5 million units annually since the year 2000. And Proton ? Even to go beyond 150, 000 units nowadays is like shite.

If the French and Japanese men could sniff all this stinky syndrome, thus took a back step earlier previously, what did he think the Germans are that easy to be fooled around ? Hahaha….perhaps he should go back to school and learn world history again..and again. By then he would know who the heck Hitler is..and what Volkswagen meant to Hitler and Deutchland.

The Germans don't give a shit about the ailing Proton. They might cordially wanted to lend their kind favour for Proton recovery at the first place, but after looking to the Proton 'leaders' kind of attitude, they might say " You better go and bury yourself..faster is better. As an arrogant and pathetic creature, you'll be such a poisonous parasite and lethal sucker to everybody"

y cant the government be alot more transparent,n tell the public,as well as the investors the real ting behind the curtains rather than jus vague inacuarate statements….if thy tell the whole story,we wont be monkeying around talking crap….bt bcos thrs hardly anyting said regarding the matter,we r all pretty much assuming…..plz givernment or even VW,jus tell us wat step r we in now,izzit done or busted?wat r the hurdles? wat r the demands?and wat conflicts r thr within the government that support and oppose the deal? transaparancy is not hard,bt its attitude i think…to those who keep saying close shop n all that…it wont hapen n neva WILL…too many sectors n employees connected to p1 thrs no way,n frankly no sence,in closing it down….all american makers going through this,as well as Fiat…its jus a phase …and hopefully its not a fundamental issue…..anyone wondering y rafidah aziz keeping very quite abt this?? last time she used to coment everytime thr was news regarding p1

then now they will come out with new models to get back positive financial quarter, and if that happens, gov will announce, P1 was never intended for sale in the first place.

GOV read this: Its not about how good or great you make the car its about the worthless of the brand. You think people are all stupid like they were in the 90's where the executive cars were Volvo. No. How can you convince someone who has had at average 3-5 years living with problems given by the brand and expect things to change even though you open a new factory that ain't gonna happen overnight or over 5 years for that matter. Banks will not announce in public that proton cars are "high-risk" loans cause it will be catastrophic for the bank, but internally they themselves know better.

Election is near, people will promise a lot of things, and opening mouth about P1 now is risky. Also 2nd Finance minister is a senator, he does not have to woo voters thats why he is announcing all of it.

I am not suprise if 31/8 they say we will extend another 3 months and another 3 months, finally talks fail, we let Mofaz/DRB/Naza take over it.

Well easy.. The G is stingy and always on their own benefits… They sure secret the documents to prevent public to know the truth that are not fair against the public… Like the Plus issue last time documents leaks out… The G control the media while we share buyers control the market price… The G now fear we public panic selling the share, so they try give out good news saying VW still in talk.. What i know is rubbish! Just rumors to prevent the share price from falling down.. The VW will not come to negotiate but the G is sending ppl over to German to talk with them.. G always want to use politics to control the P1 management.. that why VW dont want.. They are truly car makers and good business wont mix with politics well.. this is the truth! I got a hint that GM are more better then VW now.. depend on the situation now.. haiz..

just dont vote for BN vote for any opposition..if there is strong opposition then BN cant do things as they wish!!they will be more afraid!!!do that and everything will be alright!!let BN win but with less majority!!simple as that!!then proton will survive and we will have a better car to drive!!please do that people..dont just talk and take no action like our PM and G!!we must show that we have the power not them!!

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